News Release

Verastem Promotes Chief Operating Officer Robert Forrester to President

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jan. 22, 2013--
Verastem, Inc., (NASDAQ: VSTM) a clinical-stage biopharmaceutical
company focused on discovering and developing drugs to treat cancer by
the targeted killing of cancer stem cells, promoted Robert Forrester to
President in addition to Chief Operating Officer.

“Verastem has rapidly progressed through Robert’s dedication and
outstanding execution across all aspects of the Company,” said Christoph
Westphal, M.D., Ph.D., Chairman and CEO of Verastem. “I look forward to
the future successes that we will achieve together for patients who are
in desperate need of better medicines.”

In 2012, Verastem successfully completed an initial public offering
raising gross proceeds of $63.5 million and forward integrated their
focal adhesion kinase program (FAK) with the in-license of VS-6063.

“Robert has been instrumental as Verastem has translated the
fundamentally transformative cancer stem cell work of Bob Weinberg into
drugs now on the cusp of a potentially pivotal study,” said Henri
Termeer, Lead Director of Verastem. “On behalf of the Board of
Directors, I congratulate him on these accomplishments and look forward
to his continued execution of Verastem’s strategy in the years to come.”

Verastem is planning multiple clinical trials for 2013 across its
programs targeting FAK and PI3K/mTOR. The current clinical plans include
a midyear initiation of a potentially pivotal trial in mesothelioma for
lead FAK inhibitor, VS-6063.

“It is my honor and pleasure to work with Christoph and the entire
Verastem team,” said Robert Forrester. “We have a tremendous opportunity
to achieve one of the most important goals in medicine by directly
addressing the problem of cancer resistance and recurrence through the
targeted killing of cancer stem cells. In 2013, we will work diligently
to meet key objectives in this mission and focus on clinical execution
across each of our programs.”

Mr. Forrester has been the CEO, COO and CFO of both private and public
biotechnology companies. Prior to his industry leadership experience,
Robert oversaw investments in the life sciences industry as a managing
director at MeesPierson. At BZW and UBS, Robert was responsible for
corporate transactions including M&A, public and private financings.
Robert started his career as lawyer with Clifford Chance in London and
Singapore and holds a LL.B. from Bristol University.

About Verastem, Inc.

Verastem, Inc. (NASDAQ: VSTM) is a clinical-stage biopharmaceutical
company focused on discovering and developing drugs to treat cancer by
the targeted killing of cancer stem cells. Cancer stem cells are an
underlying cause of tumor recurrence and metastasis. Verastem is
developing small molecule inhibitors of signaling pathways that are
critical to cancer stem cell survival and proliferation: FAK, PI3K/mTOR
and Wnt. For more information, please visit www.verastem.com.

Forward-looking statements:

This press release includes forward-looking statements about the
Company’s strategy, future plans and prospects, including statements
regarding the development of the Company’s compounds, including VS-6063,
the timeline for clinical development and regulatory approval of the
Company’s compounds and the structure of the Company’s planned clinical
trials. The words “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,”
“will,” “would,” “could,” “should,” “continue,” and similar expressions
are intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Each
forward-looking statement is subject to risks and uncertainties that
could cause actual results to differ materially from those expressed or
implied in such statement. Applicable risks and uncertainties include
the risks that the preclinical testing of the Company’s compounds may
not be predictive of the success of later clinical trials, that the
Company will be unable to successfully complete the clinical development
of its compounds, that the development of the Company’s compounds will
take longer or cost more than planned, and that the Company’s compounds
will not receive regulatory approval or become commercially successful
products. Other risks and uncertainties include those identified under
the heading “Risk Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2011 and in any subsequent SEC filings.
The forward-looking statements contained in this presentation reflect
the Company’s current views with respect to future events, and the
Company does not undertake and specifically disclaims any obligation to
update any forward-looking statements.